Credit Suisse Group (CS) 10/27/09 PriceWatch Alert With Support Around $51.36

Posted: Tuesday, October 27, 2009 8:23 AM EDT

Credit Suisse Group (NYSE: CS) closed yesterday at $53.69. So far the stock has hit a 52-week low of $18.61 and 52-week high of $60.08. Credit Suisse Group stock has been showing support around 51.36 and resistance in the 57.60 range. Technical indicators for the stock are Bearish and S&P gives CS a positive 4 STAR (out of 5) buy rating. CS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 52.50 covered call (CS LR) for a net debit in the $50.19 area. That is also the break even stock price for this trade. This covered call has a 53 day duration, provides 6.52% downside protection and a 4.60% assigned return rate for a 31.70% annualized return rate (comparison purposes only). Credit Suisse Group has a current annual dividend yield of 0.10%. [ATU-Seven Summits Research]

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